Salesforce has signed a definitive agreement to acquire Own, a data management and solutions provider based in New Jersey. This acquisition, valued at over $1.9 billion in cash, is expected to boost Salesforce's position in data protection, subject to typical purchase price modifications. This is the company's largest acquisition since purchasing Slack for $27.7 billion in 2021.
“Data security has never been more critical, and Own’s proven expertise and products will enhance our ability to offer robust data protection and management solutions to our customers. This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data and navigate the shifting landscape of data security and compliance,” said Steve Fisher, President and GM, Einstein 1 Platform and Unified Data Services.
Since becoming a Salesforce AppExchange partner in 2012 and joining the Salesforce Ventures portfolio, Own has expanded beyond its backup and recovery capabilities. Today, approximately 7,000 companies rely on Own to secure and manage mission-critical data. The Own Data Platform provides a wide range of capabilities, from data archiving and seeding to better security and analytics, allowing enterprises to not only safeguard and comply with data requirements but also extract deeper insights to drive smarter business decisions.
Salesforce aims to incorporate Own's technology into its existing solutions, such as Salesforce Backup, Shield, and Data Mask, boosting them with a broader variety of data loss prevention options. This move will assist Salesforce clients in protecting their most significant assets — their data — while employing AI to identify trends, improve decision-making, and forecast future development prospects.
In other news, Salesforce has just announced its plans to acquire Tenyx, a company known for its AI-powered speech agents, which enable natural, engaging conversations to improve customer support.
